Honolulu Mayor Kirk Caldwell, Transportation Services Director Michael Formby, and Oahu Transportation Services President/CEO Roger Morton announced Wednesday a series of improvements to TheBus service which will begin next month.

For the first time ever, the city's operating budget tops the $2 billion mark.

According to FY 2014 Operating Resources, the city is getting 42 percent of its revenue from property taxes -- $834.8 million to be exact.

Nearly $300 million is coming from sewer charges.

Caldwell is proposing a 5-cent-per-gallon increase in the fuel tax, which could increase revenue by $15 million.

Although there is no rate increase for real property taxes, revenue is projected to increase by $23 million.

Restoring bus services will be costing the city $3.5 million; and $11.8 million would be set aside for parks improvements.

Mayor Caldwell also said he will work collaboratively with the Honolulu Authority for Rapid Transportation, stakeholders and governmental agencies to make sure that the rail project complies with all legal requirements, is fiscally responsible, transparent and is responsive to community concerns about the visual impact. This policy initiative is called "Build Rail Better."